30 years of historical data (1995–2024) · Real Estate · REIT - Retail
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Tanger Inc. trades at 42.1x earnings, 49% below its 5-year average of 82.2x, sitting at the 63rd percentile of its historical range. Compared to the Real Estate sector median P/E of 23.4x, the stock trades at a premium of 80%. On a free-cash-flow basis, the stock trades at 27.3x P/FCF, 105% above the 5-year average of 13.3x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.3B | $3.8B | $3.0B | $1.9B | $2.0B | $922M | $1.4B | $1.9B | $2.5B | $3.4B | $3.1B |
| Enterprise Value | $5.7B | $5.3B | $4.5B | $3.2B | $3.3B | $2.5B | $3.0B | $3.6B | $4.3B | $5.1B | $4.6B |
| P/E Ratio → | 42.11 | 38.78 | 30.13 | 23.30 | 236.56 | — | 64.04 | — | 37.34 | 17.80 | 14.86 |
| P/S Ratio | 8.11 | 7.21 | 6.36 | 4.28 | 4.61 | 2.37 | 2.81 | 3.81 | 5.13 | 7.32 | 7.05 |
| P/B Ratio | 6.06 | 5.58 | 4.99 | 3.69 | 3.93 | 2.57 | 3.00 | 3.73 | 4.09 | 4.84 | 5.11 |
| P/FCF | 27.28 | 24.24 | 12.86 | 11.37 | 11.44 | 6.75 | 7.58 | 9.36 | 13.27 | 18.89 | 15.24 |
| P/OCF | 16.13 | 14.34 | 12.86 | 8.86 | 9.03 | 5.60 | 6.20 | 7.30 | 9.90 | 14.25 | 14.04 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Tanger Inc.'s enterprise value stands at 19.8x EBITDA, 19% above its 5-year average of 16.6x. The Real Estate sector median is 13.6x, placing the stock at a 45% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.98 | 9.62 | 7.23 | 7.72 | 6.40 | 6.19 | 7.26 | 8.73 | 10.92 | 10.56 |
| EV / EBITDA | 19.80 | 18.15 | 18.40 | 14.08 | 14.96 | 17.54 | 7.72 | 8.35 | 8.74 | 10.92 | 18.68 |
| EV / EBIT | 38.02 | 32.14 | 29.42 | 24.09 | 52.72 | 99.31 | 19.34 | 32.53 | 31.19 | 19.20 | 16.79 |
| EV / FCF | — | 33.58 | 19.45 | 19.20 | 19.16 | 18.25 | 16.70 | 17.81 | 22.58 | 28.17 | 22.83 |
Margins and return-on-capital ratios measuring operating efficiency
Tanger Inc. earns an operating margin of 28.6%, above the Real Estate sector average of 22.0%. Operating margins have expanded from 26.0% to 28.6% over the past 3 years, signaling improving operational efficiency. ROE of 15.5% indicates solid capital efficiency. ROIC of 5.3% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.8% | 69.8% | 68.7% | 67.5% | 67.0% | 64.8% | 72.9% | 67.6% | 68.2% | 67.4% | 66.7% |
| Operating Margin | 28.6% | 28.6% | 28.8% | 26.0% | 25.8% | — | 57.4% | 18.9% | 32.9% | 32.5% | 32.9% |
| Net Profit Margin | 18.7% | 18.7% | 21.3% | 18.5% | 2.1% | -9.3% | 18.1% | -1.2% | 13.9% | 41.6% | 48.1% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.5% | 15.5% | 17.9% | 16.2% | 2.1% | -8.9% | 18.3% | -1.1% | 10.3% | 29.5% | 37.4% |
| ROA | 4.2% | 4.2% | 4.4% | 3.8% | 0.4% | -1.6% | 3.8% | -0.2% | 2.7% | 8.0% | 9.5% |
| ROIC | 5.3% | 5.3% | 5.1% | 4.7% | 4.4% | — | 9.7% | 3.1% | 5.1% | 5.0% | 5.3% |
| ROCE | 6.7% | 6.7% | 6.2% | 5.5% | 5.3% | — | 12.8% | 4.2% | 6.9% | 6.8% | 7.3% |
Solvency and debt-coverage ratios — lower is generally safer
Tanger Inc. carries a Debt/EBITDA ratio of 5.2x, which is highly leveraged (22% below the sector average of 6.7x). Net debt stands at $1.5B ($1.5B total debt minus $47M cash). Interest coverage of just 2.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.22 | 2.22 | 2.58 | 2.95 | 2.97 | 4.62 | 3.64 | 3.39 | 2.88 | 2.39 | 2.58 |
| Debt / EBITDA | 5.21 | 5.21 | 6.28 | 6.67 | 6.76 | 11.65 | 4.26 | 3.98 | 3.62 | 3.62 | 6.30 |
| Net Debt / Equity | — | 2.15 | 2.56 | 2.54 | 2.65 | 4.38 | 3.61 | 3.37 | 2.87 | 2.38 | 2.54 |
| Net Debt / EBITDA | 5.05 | 5.05 | 6.23 | 5.74 | 6.02 | 11.06 | 4.22 | 3.96 | 3.60 | 3.60 | 6.21 |
| Debt / FCF | — | 9.34 | 6.59 | 7.83 | 7.71 | 11.50 | 9.12 | 8.45 | 9.31 | 9.28 | 7.59 |
| Interest Coverage | 2.48 | 2.48 | 2.79 | 2.45 | 2.08 | — | 4.52 | 1.44 | 2.48 | 2.49 | 2.67 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.44x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 2.53x to 0.44x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.44 | 0.44 | 0.17 | 2.53 | 1.73 | 0.96 | 0.21 | 0.48 | 0.34 | 0.70 | 0.77 |
| Quick Ratio | 0.44 | 0.44 | 0.17 | 2.53 | 1.73 | 0.96 | 0.21 | 0.50 | 0.36 | 0.73 | 0.91 |
| Cash Ratio | 0.44 | 0.44 | 0.17 | 2.53 | 1.73 | 0.96 | 0.21 | 0.04 | 0.02 | 0.09 | 0.07 |
| Asset Turnover | — | 0.22 | 0.20 | 0.20 | 0.20 | 0.18 | 0.21 | 0.21 | 0.19 | 0.18 | 0.19 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Tanger Inc. returns 2.9% to shareholders annually primarily through dividends. The earnings yield of 2.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.9% | 3.2% | 3.5% | 4.4% | 3.7% | 7.2% | 9.7% | 7.0% | 5.2% | 4.1% | 3.4% |
| Payout Ratio | — | — | 104.7% | 102.6% | 794.3% | — | 151.0% | — | 191.4% | 72.8% | 49.7% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.4% | 2.6% | 3.3% | 4.3% | 0.4% | — | 1.6% | — | 2.7% | 5.6% | 6.7% |
| FCF Yield | 3.7% | 4.1% | 7.8% | 8.8% | 8.7% | 14.8% | 13.2% | 10.7% | 7.5% | 5.3% | 6.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.1% | 1.5% | 1.1% | 2.0% | 0.1% | 0.0% |
| Total Shareholder Yield | 2.9% | 3.2% | 3.5% | 4.7% | 3.7% | 7.3% | 11.2% | 8.0% | 7.2% | 4.2% | 3.4% |
| Shares Outstanding | — | $111M | $107M | $106M | $102M | $93M | $93M | $93M | $95M | $95M | $95M |
Compare SKT with 3 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| SKTYou | $4B | 42.1 | 19.8 | 27.3 | 69.8% | 28.6% | 15.5% | 5.3% | 5.2 |
| SPG | $66B | 14.4 | 20.5 | — | 85.7% | 49.9% | 89.6% | 7.6% | 6.4 |
| MAC | $5B | -26.2 | 5.0 | — | 95.4% | 67.8% | — | 20.9% | — |
| CBL | $1B | 8.7 | 10.4 | 16.0 | 7.6% | 24.2% | 40.1% | 4.3% | 7.1 |
| Real Estate Median | — | 23.4 | 13.6 | 13.7 | 60.4% | 22.0% | 3.3% | 2.6% | 6.7 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonTanger Inc.'s current P/E ratio is 42.1x. The historical average is 45.0x. This places it at the 63th percentile of its historical range.
Tanger Inc.'s current EV/EBITDA is 19.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.4x.
Tanger Inc.'s return on equity (ROE) is 15.5%. The historical average is 10.5%.
Based on historical data, Tanger Inc. is trading at a P/E of 42.1x. This is at the 63th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Tanger Inc.'s current dividend yield is 2.92%.
Tanger Inc. has 69.8% gross margin and 28.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Tanger Inc.'s Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.